US trade deal to be reviewed before final decision: Commerce Minister

Commerce Minister Khandakar Abdul Muktadir has said each clause of the trade agreement signed with the United States by the interim government will be scrutinised before taking next steps, keeping national interests in mind.

Speaking to journalists at the Secretariat on Wednesday, February 25, he said the terms of the agreement are being examined in detail. A final decision will be made after verifying which provisions benefit the country and which do not.

Regarding the new US tariff policy, the minister said the matter remains fluid. It is being heard that the US is set to announce a 15 per cent tariff imposition on all countries. However, the Bangladesh government has not yet received any official written document on this matter. Previously, reciprocal tariffs of up to 19 per cent existed for different countries, he noted. The proposed 15 per cent rate is believed to apply uniformly to all.

Describing the issue as highly sensitive, the minister said a non-disclosure agreement was in place with the US during negotiations. As the current situation is not yet finalised, making premature comments would not be prudent in the national interest. He urged journalists not to press for excessive comments on this matter.

Regarding the domestic market situation, he claimed the market is generally stable. The supply and prices of imported products under the ministry's purview are under control. However, some unscrupulous traders are attempting to exploit the situation, he alleged.

Citing the example of a sudden spike in lemon prices, the minister said there was no logical reason or supply shortage behind lemons priced at Tk 40-50 being sold temporarily at Tk 120. The price returned to normal levels within days, clarifying the matter, he commented.

Khandakar Abdul Muktadir also stated a firm stance against extortion in markets. He said extortion will be stopped not just through assurances but through effective measures.

Referring to the recent incident where two women fell during a scramble at a Trading Corporation of Bangladesh product sale as unfortunate, he said greater discipline will be brought to the distribution system to avoid such situations in future, and concerned dealers have been warned.